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By Merit Ibe
The Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), Lord Marland, has described the United States’ tariff war as a great opportunity for Commonwealth trade, urging the 56 member nations to deepen economic ties.
Lord Marland stated this during his recent visit to Nigeria where he met with CWEIC Nigeria Strategic Partners, top Nigerian businesses and government officials. He said: “This tariff war is a great opportunity for Commonwealth trade because we have 56 nations who are speaking a common language with fairly similar common trade outlook.
“Suddenly you have one of the biggest consumers in the world putting tariffs on that trade so that it is no longer free trade.
“It gives great opportunity for those who support free trade. And that is why people will turn and look to their friends, many of them in Commonwealth countries, for trading,” Marland stated.
He noted that Bahamas was currently keen for direct trade links with Nigeria and Ghana.
“We will facilitate their introductions so that they can buy direct from Nigeria rather than going by United States of America,” he said, adding that Canada is looking for new markets and renewing friendships.
He commended African governments for expanding free trade with the establishment of the African Continental Free Trade Area (AfCFTA). “The first thing that I say is the amazing speed AfCFTA was signed. It is a great credit to the African nations that they cooperated so quickly to sign that agreement”, Marland added.
